Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania. This segment also includes regulated wastewater systems in New Jersey and Delaware. The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. The company was incorporated in 1896 and is headquartered in Iselin, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: middlesexwater.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/5/2024 | $58.00 | Outperform → Neutral | Robert W. Baird |
| 6/24/2022 | Neutral → Buy | Janney |
Diluted earnings per share of $0.80 for the quarter, an increase of 42.9% in comparison to the prior yearCommon dividend increased by 4.62%. ISELIN, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today announced third quarter financial results. Third Quarter Operating Results Diluted earnings per share were $0.80 and $0.56 for the three months ended September 30, 2024, and 2023, respectively. Net income for the quarter was $14.3 million, a $4.3 million increase when compared to the same period in 2023. Revenues for the quarter ended September 30, 2024, increased $8.4 milli
ISELIN, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a quarterly cash dividend of $0.34 per share on its common stock, a 4.62% increase from the $0.325 per share dividend last declared in July 2024. This increase raises the annual dividend rate to $1.36 from $1.30 per share of common stock and marks Middlesex's 52nd consecutive year of dividend increases. The dividend at the new rate is payable December 2, 2024, to shareholders of record as of November 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Middlesex Water Company provides regulated an
ISELIN, N.J., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX), a provider of water, wastewater and related utility services, plans to announce its financial results for the third quarter ended September 30, 2024 on October 31, 2024 after the market closes. The press release and the company's 10-Q filing will be available in the Investors section of the Company's website. About Middlesex Water CompanyEstablished in 1897, Middlesex Water Company serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The company offers a full range of water, wastewater utility and related s
ISELIN, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (the "Company" or "Middlesex"), (NASDAQ:MSEX), a provider of water and wastewater and related services primarily in New Jersey and Delaware, today announced that Bernadette M. Sohler, Vice President of Corporate Affairs, will be retiring on December 31, 2024 after a 30-year career with the Company. Sohler joined Middlesex in 1994 and served in positions of increasing responsibility before being named to the executive leadership team as Vice President in 2007. She oversaw internal and corporate communications strategy including branding of the company's RENEW, DirectALERT and Water for Tomorrow® initiatives, digital me
ISELIN, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX), a provider of water, wastewater and related utility services, is pleased to announce it has been named a finalist in Ragan's prestigious PR Daily Awards. The PR Daily Awards program is regarded as the communications industry's most esteemed recognition platform, honoring the most impactful public relations, marketing, and social media campaigns across various sectors. Middlesex is being recognized in the Video: Single Use category for its employee onboarding video, which provides new employees with an engaging introduction to the Company's culture, mission, vision and values, its commitment to service an
GREENWICH, Conn., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, a leader in value-oriented and research-driven investment management, is excited to announce its second annual PFAS Symposium, scheduled for Thursday, September 26, 2024, at The Harvard Club in New York City. This event will bring together leading experts, policymakers, and industry executives to explore the critical issues surrounding PFAS (Per- and Polyfluoroalkyl Substances), their uses, replacements, and remediation efforts in water treatment and other categories. The symposium will feature company presentations, fireside chats, panel discussions, and one-on-one meetings. It aims to facilitate a comprehensi
ISELIN, N.J., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has announced that its Vice President of Enterprise Engineering, G. Christian Andreasen, Jr. P.E. will be speaking at the Second Annual Gabelli Funds PFAS Symposium on Thursday, September 26 at 2:30 pm (ET) at the Harvard Club in New York City. The event will bring together leading experts, policy makers and industry executives to discuss critical issues related to PFAS (Per- and Polyfluoroalkyl substances) a group of chemicals widely used in many industrial applications and consumer products since the 1940s. The conference aims to facilitate a dialogue on the environmental and public health challenges p
ISELIN, N.J., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (the "Company" or "Middlesex Water") has announced that its President and Chief Executive Officer, Nadine Leslie, and Senior Vice President, Chief Financial Officer and Treasurer, Mohammed G. (Rally) Zerhouni, will be participating in the 4th Annual Virtual Water Utilities Conference hosted by Janney Montgomery Scott on Thursday, September 19, 2024 at 1:00 p.m. (ET). Ms. Leslie and Mr. Zerhouni will be providing a Company update. The Conference is a virtual event to be moderated by Michael Gaugler, Janney Senior Analyst and Managing Director, Utility & Infrastructure. The live presentation as well as a replay of the w
GREENWICH, Conn., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, a leader in value-oriented and research-driven investment management, is excited to announce its second annual PFAS Symposium, scheduled for Thursday, September 26, 2024, at The Harvard Club in New York City. This event will bring together leading experts, policymakers, and industry executives to explore the critical issues surrounding PFAS (Per- and Polyfluoroalkyl Substances), their uses, replacements, and remediation efforts in water treatment. The symposium will feature company presentations, fireside chats, panel discussions, and one-on-one meetings. It aims to facilitate a comprehensive dialogue on the enviro
ISELIN, N.J., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX), a provider of water, wastewater and related utility services, is pleased to announce that its Vice President, General Counsel and Secretary, Jay L. Kooper, has been named a finalist in the 2024 New Jersey Legal Awards, sponsored by the New Jersey Law Journal. Kooper was named a finalist in the In-House Impact awards category. Finalists were selected for 18 different legal categories by an independent panel of judges. The winners in each category will be announced on October 29, 2024 at Park Chateau Estate in East Brunswick, New Jersey For more information, please visit the New Jersey Legal Awards s
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Robert W. Baird downgraded Middlesex Water from Outperform to Neutral and set a new price target of $58.00
Janney upgraded Middlesex Water from Neutral to Buy
Boenning & Scattergood downgraded Middlesex Water from Outperform to Neutral
Janney downgraded Middlesex Water from Buy to Neutral
Janney Montgomery Scott upgraded Middlesex Water from Neutral to Buy
Janney upgraded Middlesex Water from Neutral to Buy
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ISELIN, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (the "Company" or "Middlesex"), (NASDAQ:MSEX), a provider of water and wastewater and related services primarily in New Jersey and Delaware, today announced that Bernadette M. Sohler, Vice President of Corporate Affairs, will be retiring on December 31, 2024 after a 30-year career with the Company. Sohler joined Middlesex in 1994 and served in positions of increasing responsibility before being named to the executive leadership team as Vice President in 2007. She oversaw internal and corporate communications strategy including branding of the company's RENEW, DirectALERT and Water for Tomorrow® initiatives, digital me
ISELIN, N.J. , Jan. 23, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has named Nadine Leslie as its new President & CEO effective March 1, 2024. Ms. Leslie joins Middlesex following a comprehensive search for a successor to outgoing President & CEO Dennis W. Doll, who will retire from the Company February 29, 2024. Ms. Leslie will also be appointed to the Board of Directors effective March 1, 2024. Ms. Leslie is an accomplished leader with domestic and international experience in the Water Industry. She previously served as Chief Executive Officer of SUEZ North America from 2019 to 2022. In this capacity, she was responsible for overseeing one of North America's leadin
ISELIN, N.J., April 03, 2023 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has named Robert J. Capko, Principal Accounting Officer, effective April 1, 2023. Mr. Capko will continue to serve as Corporate Controller of Middlesex Water and its subsidiaries including the Pinelands Water and Wastewater Companies, Utility Service Affiliates (Perth Amboy) Inc., and Utility Service Affiliates. He also serves as Treasurer of Tidewater Utilities, Inc. and its subsidiary, White Marsh Environmental Systems, Inc. In this new additional role, Mr. Capko will assume more defined responsibilities in the areas of external financial reporting and capital financing. Mr. Capko joined Middlesex W
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4 - MIDDLESEX WATER CO (0000066004) (Issuer)
Diluted earnings per share of $0.80 for the quarter, an increase of 42.9% in comparison to the prior yearCommon dividend increased by 4.62%. ISELIN, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today announced third quarter financial results. Third Quarter Operating Results Diluted earnings per share were $0.80 and $0.56 for the three months ended September 30, 2024, and 2023, respectively. Net income for the quarter was $14.3 million, a $4.3 million increase when compared to the same period in 2023. Revenues for the quarter ended September 30, 2024, increased $8.4 milli
ISELIN, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a quarterly cash dividend of $0.34 per share on its common stock, a 4.62% increase from the $0.325 per share dividend last declared in July 2024. This increase raises the annual dividend rate to $1.36 from $1.30 per share of common stock and marks Middlesex's 52nd consecutive year of dividend increases. The dividend at the new rate is payable December 2, 2024, to shareholders of record as of November 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Middlesex Water Company provides regulated an
Second Quarter 2024 Net Income was $10.5 million, as compared to $9.9 million in 2023, an increase of 6.5%.Second Quarter 2024 Revenues were $49.1 million, as compared to $42.8 million in 2023, an increase of 14.8%.Dividend of $0.325 per share of common stock payable in September 2024 ISELIN, N.J., July 31, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Results Diluted earnings per share were $0.59 for the three months ended June 30, 2024, compared to $0.55 for the same period in 2023. Net income for
ISELIN, N.J., July 24, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has announced that its Board of Directors has declared a cash dividend of $0.325 per share on its common stock, payable September 3, 2024 to shareholders of record as of August 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Middlesex Water provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiary companies. Information about Middlesex Water, including information about its Investment Plan, is available on the Investors section of the Company's website and its shareholder po
HIGHLIGHTS First Quarter 2024 Net Income was $10.7 million, as compared to $5.9 million in 2023, an increase of 82.1%First Quarter 2024 Diluted Earnings Per Share were $0.59, as compared to $0.33 in 2023, an increase of 78.8%First Quarter 2024 Revenues were $40.5 million, as compared to $38.2 million in 2023, an increase of 6.2%2024 Capital Investment Plan Delivery on scheduleDividend of $0.325 per share of common stock payable in June ISELIN, N.J., May 08, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today reported first quarter financial results. First Quarter 2024 Results Dilute
ISELIN, N.J., April 25, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) has announced that its Board of Directors has declared a cash dividend of $0.325 per share on its common stock, payable June 3, 2024 to shareholders of record as of May 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Middlesex Water provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiary companies. To learn more about Middlesex Water, including information about its Investment Plan, visit the Investors section at www.middlesexwater.com. ABOUT MIDDLESEX WATER COMPANY Est
ISELIN, N.J., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) today announced financial results for the year ended December 31, 2023. 2023 OPERATING RESULTS Consolidated operating revenues increased to $166.3 million for the year ended December 31, 2023, up $3.8 million from 2022. Factors affecting operating revenues were: A net $4.2 million increase in our Middlesex System revenues due to the implementation of the final phase of the 2021 base rate case increase on January 1, 2023 and additional revenues through the Purchase Water Adjustment Clause rate;A net decrease of $0.9 million in our Tidewater System revenues related to lower
ISELIN, N.J., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a cash dividend of $0.325 per share on its common stock, payable March 1, 2024 to shareholders of record as of February 15, 2024. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Middlesex Water provides regulated and unregulated water and wastewater utility services primarily in New Jersey and Delaware through various subsidiary companies. To learn more about Middlesex Water, including information about its Investment Plan, visit the Investors section at www.middlesexwater.com. ABOUT MIDDLESEX WATER COMPA
ISELIN, N.J., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Middlesex Water Company ("Middlesex" or the "Company") (NASDAQ:MSEX) a provider of water and wastewater services, today announced third quarter financial results. Third Quarter ResultsRevenues for the quarter ended September 30, 2023 decreased $1.0 million to $46.7 million, compared to the same period in 2022. Middlesex System revenues decreased $0.2 million due mostly to lower customer demand partially offset by the implementation of the final phase of the 2021 New Jersey Board of Public Utilities (NJBPU)-approved base rate increase. In our Delaware System, revenues decreased $0.7 million due to lower customer demand and a 2022 Delaware Pub
ISELIN, N.J., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a cash dividend of $0.325 per share on its common stock, an increase of 4.0% from the $0.3125 per share dividend last declared in July 2023. This increase raises the annual dividend rate to $1.30 from $1.25 per share of common stock and marks Middlesex's 51st consecutive year of dividend increases. The dividend at the new rate is payable December 1, 2023 to shareholders of record as of November 16, 2023. Middlesex Water Company has paid cash dividends in varying amounts continually since 1912. Organized in 1897, Middlesex Water provides regulated a
Middlesex Water Company (Middlesex) is launching a $9.7 million project to upgrade Woodbridge, New Jersey's drinking water infrastructure. Starting in June 2024, the Company's RENEW initiative will revamp 18,550 linear feet of water mains, including service lines, valves, and hydrants. Integrated with RENEW, Middlesex's "Knocking Out Lead" program aims to eliminate lead or galvanized steel service lines. This aligns with New Jersey's legislation to replace all such lines by 2031. There is no direct cost to customers who meet the criteria for lead and galvanized water line replacement. Those identified lead service lines will be scheduled for future replacement.
Baird analyst Ben Kallo maintains Middlesex Water (NASDAQ:MSEX) with a Outperform and raises the price target from $56 to $58.
Middlesex Water (NASDAQ:MSEX) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.45 by 31.11 percent. The company reported quarterly sales of $40.500 million which missed the analyst consensus estimate of $44.550 million by 9.09 percent. This is a 6.14 percent increase over sales of $38.156 million the same period last year.
Although U.S. stocks closed lower on Friday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Greif The Trade: Greif, Inc. (NYSE:GEF) EVP and CFO Lawrence A. Hilsheimer acquired a total of 7,363 shares an average price
Baird analyst Ben Kallo maintains Middlesex Water (NASDAQ:MSEX) with a Outperform and lowers the price target from $69 to $59.
Middlesex Water (NASDAQ:MSEX) reported quarterly earnings of $0.32 per share which missed the analyst consensus estimate of $0.52 by 38.46 percent. This is a 20 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $38.60 million which missed the analyst consensus estimate of $44.90 million by 14.03 percent. This is a 0.57 percent decrease over sales of $38.82 million the same period last year.
The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here’s the latest list of major oversold players in this sector, having an RSI near or below 30. PNM Resources, Inc. (NYSE:PNM) On Jan. 2, Avangrid, a member of the Iberdrola S.A. Group, terminated the merger agreement with PNM